Daily Yellowstone journal., 1887-01-16
ABOUT BUILDING ASSOCIATIONS.
what has Been Done Elsewhere, and What
We are Doing Here.

what has Been Done Elsewhere, and What
We are Doing Here.
Philadelphia, the American home of
building ana loan associations. has
discarded the limited system for ASSOC
Citations and now runs them on a per-
manent plan, issuing a new series Of
stock every year. Money is 40 cheap
there that loans are made without
premiums and at 9 per cent interest.
or course when deprived of the prem
ium the profits to the association are
less and II takes that much longer for
a series to mature; under this system
stock natures in about eleven years.
One Of Philadelphia's oldest associa-
tions of this kind has a record which
is interesting TO all persons connected
with enterprises of this kind. 1t is
called the Union Savings and Build
ing Association Of West Philadelphia,
and was organized In December, 1853.
IL IL still in active operation Twenty
four series Of stock have matured, u
after the other, aud have bee. paid
off. The average lime Of a series
reaching maturity has been nine Year.
and one month. THIS society has Ie-
ceived and paid out over $1,000, COJ.
Since 1872 the number OF shares paid
of ia full has been l,0l2. and the
amount thu, disbur,ed S2Os, i0O. Pres
ident Henry b. Chapman, nj The
head OF the institution, presided nj the
fret meeting held to organize thirty
three years ago James q. Francis,
the present secretary, has held the
position tor fifteen years. This society
now has 81 members, who are carry
ing 2,li0l shares OF stock, There pres-
ent shareholders have paid In Sis, 1893,
ami that money has gained for Them
$37, 6Is.07. The net profit IN last
year'- business was IS. S35. SO, and The
total expense was S469.25. Seemingly
there Is M end to the good TO lie ac-
complished.
Our own local association, although
in it's infancy, is highly prosperous and
will show a gain of 40 per cent. in the
first years business. It's membership
Of $50 shares is principally among the
clerks, mechanics and laborers of the
town, many of whom could In no
other way be induced to save q dollar
or look forward to the absolute indie
pendence Of living In ones own house.
These now find that without any ap.
parent p%inching Of their ex expenses they
have accumulated q little fund, which
has itself been actively engaged In
rolling up profits and interest. There
is something so tangible about the re-
suit that IL IL an inducement to keep
on making the monthly payment, and
IL possible increasing the amount.
Take the case Of some young mar on a
salary who has never felt able to buy
a suit OF clothes aud pay for them.
He has taken five shares Of stock and
paid in five dollars a month. AT the
end of twelve months he has paid In
$50 and he will no doubt be consider
ably surprised when the secretary In
forms him that his $50 has earned him
S24, and that his holding Of stock In
the association. which has only cost
him u beggarly s. a month for a year,
Is worth at the end of the year $S4.
or course these figures may not be YER
flied or realized by the actual state
ment of the association, but they are
used AZ an illustration and as a matter
of fact will not be very far out Of the
way. Is there any other way in which
this young fellow could have invested
five dollars a month with anything
like such good results2 Weimagine not.
With the return OF spring and the
building season there will undoubt-
eddy be an increased demand for
money for building purposes, and II
would seem TO be a wise move on the
part of the Miles City association to
prepare for this demand by 30 chang